Singapore – Singapore-headquartered payment institution FOMO Pay has partnered with Sumsub to add identity verification, business verification and transaction monitoring to its compliance infrastructure. The move comes as the company expands across markets.
Sumsub, which describes itself as the first AI-powered trust infrastructure for compliance operations at scale, says its solutions will support FOMO Pay’s evolving regulatory and operational requirements.
FOMO Pay currently operates across Southeast Asia, the Greater Bay Area, and the Middle East and North Africa. Compliance requirements can vary significantly between these economies.
FOMO Pay uses Sumsub’s modular, API-first platform as an additional solution within its existing technology infrastructure. According to Sumsub, the platform helps optimise relevant workflows across different customer segments and markets.
Sumsub says it supports more than 14,000 identity document types from over 220 countries and territories. The platform also offers business verification, ownership verification and AML screening for FOMO Pay’s onboarding and compliance workflows.
Beyond onboarding, FOMO Pay uses Sumsub’s transaction monitoring tools to review customer transactions and account activity for potential risks. Sumsub says this provides end-to-end compliance coverage for FOMO Pay’s global operations.
The partnership arrives as financial institutions face increasingly sophisticated and coordinated fraud threats. Sumsub’s Identity Fraud Report 2025-26 found that multi-step, resource-intensive attacks powered by AI rose 180% year-on-year globally in 2025.
The report also shows that the Middle East recorded the fastest regional fraud growth that year at 19.8%, followed by APAC at 16.4%. Deepfakes remain a particular concern in APAC, with incidents rising 158% in Singapore and 147% in Hong Kong year on year in 2025.
Against this backdrop, FOMO Pay’s leadership says the partnership fits its wider infrastructure plans. “As financial services become increasingly interconnected across markets, businesses need technology and compliance infrastructure that can evolve alongside their operations. At FOMO Pay, we continuously develop our processes and technology to support our expanding footprint and changing regulatory requirements,” said Leona Gan, Director of Business Development at FOMO Pay.
She added, “Our partnership with Sumsub adds further capabilities to our verification and compliance workflows, complementing the broader infrastructure we have in place as we scale across markets.”
Sumsub, meanwhile, points to the growing convergence of payments and digital assets. “Payments and digital assets are converging, and customers increasingly move between services, platforms, and markets. For highly regulated sectors like financial services, trust and compliance must keep pace with these developments,” said Penny Chai, Vice President, APAC at Sumsub.
“Our partnership with FOMO Pay reflects the growing need for scalable compliance operations, enabled by trust infrastructure that can adapt to evolving regulations and emerging fraud risks as financial services become more interconnected,” Chai added.
Looking ahead, FOMO Pay will continue developing its digital financial infrastructure across global payments, global business accounts and digital assets. The company is also exploring how AI and automation can play a greater role across its products and services.
